Public Employees Retirement System of Ohio Buys Shares of 131,100 ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Public Employees Retirement System of Ohio purchased a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 131,100 shares of the company’s stock, valued at approximately $3,364,000. Public Employees Retirement System of Ohio owned approximately 0.11% of ZIM Integrated Shipping Services as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ZIM. Renaissance Technologies LLC raised its stake in ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after acquiring an additional 2,181,000 shares in the last quarter. Marshall Wace LLP increased its position in ZIM Integrated Shipping Services by 638.6% during the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after purchasing an additional 2,072,715 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $14,383,000. International Assets Investment Management LLC boosted its position in ZIM Integrated Shipping Services by 2,228.7% in the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after buying an additional 366,647 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $19.51 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $9.08 and a fifty-two week high of $30.15. The company has a 50 day simple moving average of $22.40 and a two-hundred day simple moving average of $20.69. The company has a market capitalization of $2.35 billion, a PE ratio of 1.63, a P/E/G ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a $2.81 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 57.63%. ZIM Integrated Shipping Services’s payout ratio is presently 9.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZIM shares. Barclays increased their price target on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. Jefferies Financial Group restated a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Bank of America raised their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and an average target price of $15.74.

ZIM Integrated Shipping Services Profile

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.